Sheldon Adelson and Steve Wynn Stand Against Internet Gambling

It’s hard to argue that any two other people on earth know more about running casinos and the state of the gambling industry than Las Vegas Sands Chairman, Sheldon Adelson, and Wynn Resorts Chairman, Steve Wynn. And while the two have both agreed and disagreed on policy and business in the past, Mr. Adelson and Mr. Wynn agree on Internet gambling.

It’s a loser.

Where Mr. Adelson objects based on the societal, moral, and employment implications, Mr. Wynn has often stated that it’s not a financially viable business over the long term. However, Wynn is also on record as saying rhetorically to Jon Ralston on Ralston Reports, “Do you really think they can stop underage gambling?”

Mr. Adelson also cites the moral obligation he has to shareholders who he believes, and polling confirms, have a negative view of Internet gambling. Most often, Mr. Adelson references the same concerns about minors gaining access to online casinos. Both men see this as an emerging issue, not one that is close to being solved. As security improves, so do the tools to subvert it as evidence of major global hacking schemes in the last year involving the U.S. government and major Fortune 500 companies.